Replies to post #5312 on RS Legacy Corp. (fka RSHCQ)

[StockGod]

What will the Sprint Radioshack melding do?

[LouisDesyjr]

Comparable BK case

Didn't the lawyers get their money up front, prior to filing the bankruptcy?

Usually, because the firm knows there is not going to be enough money, plus the firm does not want the fee to become part of the unsecured debt, most firms get the full fee in advance, prior to the filing being done. Legal expenses for the bankruptcy prior to filing have priority and are allowed.

Louis J. Desy Jr.

[eq001]

Documents for bidding on their leases reflect cure amounts. Bidders must provide a minimum deposit of $20,000; bid a minimum of $20,000 per lease AND pay cure amounts to cover past rent due! They can optionally choose to purchase "furnishings and fixtures" for an additional $5,000. IMO The individual lease auction has been setup to fail.

The document includes 150 pages listing the leases with the cure amount for each lease; but does not include a final tally. I made a mental tally for the 1st two pages and multiplied by 75. My rough "guesstimate" is that the cure amount totals $25.8 million!

A few cures are under $1,000. You might be able to count those on one hand. Many of the cure amounts are over $20,000.